The Greedy Trader Weekly Analysis
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- 3/15/2024 -
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Archer-Daniels-Midland (ADM) Technical Analysis

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Summary:
Weekly :Broken trend support lineOversold industryLane's Stochastic is oversold
Daily :Relative Strength Index and Lane's Stochastic are overboughtPrice has crossed above the 50 Day Moving Average
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It was a third consecutive positive week for the Archer-Daniels-Midland (ADM). During the week, the ADM gained 4.50 points, or 8.21%, and closed at 59.31 on Friday, March 15, 2024. Weekly volume was 166% above average.

ADM is a member of Agricultural Products Industry. Agricultural Products is the fourth most oversold industry. Sector/industry rotation is considered a proven strategy to beat the market. Use the following links to find overbought/oversold technical indicators by Sector or by Industry.

Long-term trend: [See ADM long-term trend chart]
A long-term uptrend had started on March 23, 2020 at 28.92 and reached 98.88 on April 21, 2022. ADM gained -69.96 points, or -241.91%, in 108 weeks. The chart has formed a Symmetric Triangle chart pattern. The uptrend support line (101.68) is broken. A broken support is considered to be a long-term bearish signal. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend support in a long-term trend.

Medium-term trend: [See ADM medium-term trend chart]
A medium-term downtrend had started on December 14, 2023 at 77.35 and reached 50.72 on January 25, 2024. ADM lost 26.63 points, or 34.43%, in 6 weeks. The price is now at the 32.26% retracement level.

Weekly Technical Indicators: [See ADM weekly technical indicators chart]
Weekly Lane's Stochastic is oversold. Use the Technical Stock Screener to see the list of stocks with weekly oversold Lane's Stochastic. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following link to access Lane's Stochastic help.

The weekly MACD line is below its signal line since December 15, 2023. This is an indication that the medium-term trend is down. Use the following link to access a MACD help.

Short-term trend: [See ADM short-term trend chart]
A short-term uptrend had started on January 25, 2024 at 50.72 and reached 59.78 on March 15, 2024. ADM gained -9.06 points, or -17.86%, in 50 days. The price is now at the 5.19% retracement level.

Daily Technical Indicators: [See ADM daily technical indicators chart]
Daily Relative Strength Index and Lane's Stochastic are overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Relative Strength Index and Lane's Stochastic. Use the following link to access Relative Strength Index help.

The daily MACD line is above its signal line since February 7, 2024. This is an indication that the short-term trend is up.

During the last week, the price has advanced above the 50 Day Moving Average. While the medium-term trend is down and daily technical indicators are overbought, the 50 Day Moving Average is considered a resistance level. The moving average crossover signals work better when the stock develops a strong trend, but they are ineffective when the stock is in a trading range. Moving average crossover systems can be effective, but should be used in conjunction with trend patterns, momentum indicators, candlesticks and other aspects of technical analysis. Use the following links to access Moving Average Crossover trading technique, or use the Technical Stock Screener to see the list of stocks with the Moving Average close to the price level.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 83.89
Overbought
Williams' Percentage Range (W%R) 28.20
Lane's Stochastic (%D-Slow) 80.55
Overbought
Greed/Fear Indicator (GFI) 78.75
Moving Average Converg./Diverg. (MACD) -0.66
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 32.02
Williams' Percentage Range (W%R) 73.50
Lane's Stochastic (%D-Slow) 16.02
Oversold
Greed/Fear Indicator (GFI) 27.14
Moving Average Converg./Diverg. (MACD) -5.03
Trading Signals
Description Value Chart
Upper Bollinger Band 59.49
Price 59.31
Daily Stochastic Crossing 58.69
50 Day Moving Average 57.55
Parabolic System 54.65
20 Day Moving Average 54.60
Weekly Stochastic Crossing 53.89
Lower Bollinger Band 51.82
Sector and Industry
Description Name Rank
Sector Consumer Staples 4
Industry Agricultural Products 4
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 50.72
Low Date 01/25/2024
High 59.78
High Date 03/15/2024
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 77.35
High Date 12/14/2023
Low 50.72
Low Date 01/25/2024
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 87.30
High Date 07/26/2023
Low 50.72
Low Date 01/25/2024
Quarterly Trend
Yearly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 98.88
High Date 04/21/2022
Low 50.72
Low Date 01/25/2024
Description Value
Direction Up
Chart Pattern Symmetric Triangle
Status Broken Support
Resistance 82.47
Support 101.68
Low 28.92
Low Date 03/23/2020
High 98.88
High Date 04/21/2022
Warning: TheGreedyTrader.com presents weekly analysis. Technical indicators and trend parameters are calculated for the close of business day indicated on the top right corner of the screen.